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The black-market dollar rate in Argentina is being read as a gauge of fear about the economy, with demand for dollars rising as Argentines move out of pesos. The article points to stagflation despite official statistics showing a drop in activity.
It frames the gap between official and parallel rates as a sign of expected devaluation and default.
Persistent demand for dollars and expectations of devaluation keep upward pressure on the official USD/ARS rate, which affects the cost of imported feed and the peso returns Argentine exporters receive for soymeal and grain.
forbes.comAgustino FontevecchiaMay 27, 2020Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
